Darkfost2026-05-08

Bitcoin Open Interest sees Biggest increase of 2026, surpassing the 2025 ATHs Session

The Bitcoin market remains heavily driven by futures markets. BTC’s recent bullish momentum is largely explained by the gradual return of investors to derivatives markets. Although funding rates have remained broadly negative for several weeks, Open Interest has just recorded its strongest increase since the beginning of 2026. It is worth noting that this increase is already larger than the one recorded during Bitcoin’s ATH formation. Binance continues to attract the majority of capital on this segment and accounts for approximately 34% of the market share with its monthly average reaching $2.5B on May 5. A similar trend can also be observed across other exchanges, notably Gate.io with $1.75B and Bybit with $1.15B. This environment stands in sharp contrast to the conditions seen earlier this year and suggests that optimism is slowly returning to the market, encouraging traders to increase their exposure to risk once again. That said, it also creates a more fragile market structure. Leveraged positions are rarely built to last over time, and their liquidation could significantly amplify volatility and the risks associated with the market.